Gas prices jump, fuel shortages reported as Colonial Pipeline works to restore operations

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Gas prices jump, fuel shortages reported as Colonial Pipeline works to restore operations

The Alpharetta, Ga.-based company said Monday that it expects to restore service by the end of the week. In the meantime, consumers are starting to see the consequences. On Tuesday morning, more than 7 percent of gas stations in Virginia, 5 percent in North Carolina and nearly 4 percent in Georgia were without fuel, with stations in Florida, Alabama and South Carolina also reporting dry pumps according to Patrick De Haan, oil analyst at Gas Buddy. He said gasoline demand in these states rose 40 percent on Monday, but cautioned against panic-buying, which will exacerbate shortages.



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